Global Password Management Market Overview:
Password is the most common process for users to authenticate themselves when entering into any computer systems or websites. It acts as the first line of defence against unauthorized access, and it is therefore difficult to maintain the efficiency of this line of defence by thoroughly practicing a good password management service. The password management is a set of principles and best practices to be followed by users while storing and managing their passwords in an efficient way to protect passwords as much as they can to avoid unauthorized access. The growing instances of attacks by hackers have increased concerns toward password security and it led to increase the demand of password management. Some of the players profiled in the study are Google Inc. (United States), Microsoft Corporation (United States), Fastpass Corporation (United States), Knowledge Secure Systems Ltd. (United Kingdom), Hitachi ID Systems, Inc. (Canada), Sonicwall Inc. (United States), SailPoint Technologies Pvt. Ltd. (Austin), Avatier Corporation (United States), Courion Corporation (United States) and Dell Software (United States).
On the basis of geography, the market of Password Management has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Asia Pacific on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Deployment Mode, the sub-segment i.e. On-Premise will boost the Password Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Public Key Infrastructure will boost the Password Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Device, the sub-segment i.e. Desktop will boost the Password Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. BFSI will boost the Password Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Frequent Decrease in Cost Associated With Help Desk
- Augmented Instances of Attacks by Hackers Have Increased Concerns toward Password Security
Influencing Trend
- Continual Technological Advancements in Fields of Analytics and Cloud
Restraints
- Difficulty of Cloud Password Management Solutions
Opportunities
- Attractive Pricing Options Related to Password Management Solutions
Challenges
- Less Success Rate of Password Self-Service Projects
Key Market Developments:
On October 9, 2018, Centrify, a leader in both the Privileged Access Management (PAM) and Identity-as-a-Service (IDaaS) markets, today announced it is spinning out its IDaaS business as a standalone company named Idaptive.
Target Audience:
Password management service provider, IT & Telecom industry, Banking sector, Educational Institution, Healthcare Industry, Governmental bodies and Research firms
Major Objectives Focused through this Study
To define, describe, and forecast the Global Password Management market on the basis of product [Self-Service Password Reset and Privileged User Password Management ] , application [
], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Password Management market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Password Management industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Centrify Corporation (United States), CA Technologies Inc. (United States) and NetIQ Corporation (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Password Management market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.